Key Developments: Gannett Co Inc (GCI)

GCI on New York Consolidated

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22 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Graham Holdings Co agrees to sell investment in Classified Ventures to Gannett Co Inc
Tuesday, 5 Aug 2014 08:45am EDT 

Graham Holdings Co:To sell their stake in Classified Ventures (CV) to Gannett Co., Inc. for a price that values CV at $2.5 bln. Gannett currently owns a 27 pct share of CV; Graham Holdings owns a 16.5 pct share.Transaction is expected to close before the end of 2014, subject to regulatory review.  Full Article

Tribune Media announces agreement to sell 27.8 pct stake in Classified Ventures to Gannett
Tuesday, 5 Aug 2014 06:35am EDT 

Tribune Media Co:Says with the remaining partners in Classified Ventures, LLC (CV) enters into a definitive agreement to sell its entire stake in CV to Gannett Co., Inc. for a price that values CV at $2.5 bln.Transaction is expected to close before the end of 2014.Expects to use the proceeds from this transaction for general corporate purposes.Moelis & Company served as financial advisors and Skadden, Arps, Slate, Meagher & Flom provided legal counsel to CV on this transaction.  Full Article

A. H. Belo Announces Agreement to sell investment in Classified Ventures to Gannett Co
Tuesday, 5 Aug 2014 06:30am EDT 

A. H. Belo Corp:Says along with its partners in Classified Ventures, LLC, enters into a definitive agreement to sell its units in Classified Ventures (CV) to Gannett Co., Inc. for a price that values CV at $2.5 bln.Transaction is expected to close before the end of 2014.Moelis & Company LLC acted as exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP acted as exclusive legal advisor to A. H. Belo Corporation, its selling partners and CV.  Full Article

Gannett to create two companies with scale through spin-off of Publishing Business to Gannett Shareholders
Tuesday, 5 Aug 2014 06:30am EDT 

Gannett Co Inc:Plans to create two publicly traded companies with scale: one exclusively focused on Broadcasting and Digital businesses, and the other on Publishing business.Planned separation of the Publishing business will be implemented through a tax-free distribution of Gannett's Publishing assets to shareholders.Transaction will create two focused companies with increased opportunities to grow organically across all businesses as well as pursue strategic acquisitions.Also signed a definitive agreement to acquire full ownership of Cars.com, one of the digital companies in the automotive space.Under the agreement, Gannett will acquire the 73 pct interest it does not already own in Classified Ventures LLC, which owns Cars.com, for $1.8 bln in cash.  Full Article

Gannett Co Inc announces quarterly dividend
Tuesday, 29 Jul 2014 04:15pm EDT 

Gannett Co Inc:Declares dividend of 20 cents per share.Payable on Oct 01, 2014 to stockholders of record as of close of business on Sept. 05, 2014.  Full Article

Gannett completes acquisition of six London Broadcasting Company TV stations from SunTx Capital Partners
Tuesday, 8 Jul 2014 02:00pm EDT 

Gannett Co Inc:Announces acquisition of six of London Broadcasting company's television stations in Texas for $215 million in an all-cash transaction.Acquisition includes KCEN (NBC) in Waco-Temple-Bryan, KYTX (CBS) in Tyler-Longview, KIII (ABC) in Corpus Christi, KBMT (ABC) and its digital sub-channel KJAC (NBC) in Beaumont-Port Arthur, KXVA (FOX) in Abilene-Sweetwater and KIDY (FOX) in San Angelo.  Full Article

Gannett Co., Inc and Sander Media LLC complete sale of KTVK-TV and KASW-TV to Meredith Corporation
Thursday, 19 Jun 2014 03:20pm EDT 

Gannett Co., Inc and Sander Media LLC:Says they completed the previously announced sale of KTVK-TV and KASW-TV in Phoenix, AZ, to Meredith Corporation, following receipt of regulatory approvals.As part of sale, Sander Media has conveyed to Meredith substantially all of its assets used in the operation of both KTVK-TV and KASW-TV, which Sander Media acquired upon completion of the Gannett-Belo transaction on Dec. 23, 2013.In addition, Gannett has conveyed certain other assets that it used to provide services to both KTVK-TV and KASW-TV, which Gannett acquired from Belo Corp upon close of Gannett-Belo transaction.At closing, Meredith simultaneously conveyed KASW-TV to SagamoreHill of Phoenix, LLC, which, through its affiliates, owns and operates two television stations in two markets.Total sale price of combined stations (KTVK-TV and KASW-TV in Phoenix and KMOV-TV in St. Louis) was $407.5 mln in cash.  Full Article

Gannett Co Inc purchases HotelMe
Friday, 23 May 2014 12:00pm EDT 

Gannett Co Inc:Concludes purchase of HotelMe, website providing authenticated user-generated hotel reviews.Launched in 2012, HotelMe is a joint venture between Gannett, USA TODAY Travel Media Group and District Hospitality Partners.  Full Article

Gannett Co Inc reports Classified Ventures' agreement to sell Apartments.com
Monday, 3 Mar 2014 07:21am EST 

Gannett Co Inc:Classified Ventures, LLC has agreed to sell Apartments.com, which represents about one-fourth of Classified Ventures net income, for $585 mln to CoStar Group Inc.Transaction expects to close during the second quarter of 2014.Company expects to use proceeds of sale to reduce debt and for other purposes consistent with Gannett's stated capital allocation strategy.  Full Article

Gannett Co Inc and Sander Media LLC complete sale of KMOV-TV to Meredith Corp
Friday, 28 Feb 2014 12:30pm EST 

Gannett Co Inc:Completes the sale of KMOV-TV in St. Louis, MO, to Meredith Corp for $177 mln.  Full Article

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